Avantis Legal Compliance

Avantis Legal Compliance

At Avantis Regtech, we use state-of-the-art technological tools such as AI, ML, OCR to crawl more than 2000 regulatory websites on a daily basis, offering the ability to quickly analyze and synthesize 2500 legal updates per year, creating a credible database in real time. „The agenda is to simplify, streamline, digitize and decriminalize the regulatory ecosystem to create a cashless, presenceless and paperless compliance process. One of the key aspects to consider to improve the ecosystem is the creation of a national compliance commission Avantis Regtech, a leading regulatory technology solutions company from TeamLease Services, has shared the results of its recent survey of the compliance landscape in India. According to the survey, nearly 75% of companies had not met at least critical compliance because compliances are complex and most are still based in India. In fact, nearly 98.6% of employers, in responding to the survey, reiterated the need to digitize the compliance process in the country, believing that this would simplify the process and make it easier to manage. „Avantis Regtech provides a comprehensive, real-time national compliance database that contains all legal updates in the country and tracks changes 15 times a day.“ Mr. Rishi Agrawal, CEO of Avantis Regtech Pvt Ltd – A TeamLease Group company, said about regulatory cholesterol in India, Sharing the insights from the survey: „Managing compliance in India is a difficult task because the landscape is very complex. We have a universe of 1,536 laws and 69,233 compliances that change more than 3,000 times a year. Every business not only has to deal with multiple compliance requirements, but also with many deadlines. As a result, it will be difficult for companies to stay informed of these changes and ensure compliance in a timely manner. To make things more complex in the compliance landscape, nearly 65% are still on paper, making the process even more cumbersome.

All this not only leads to fines and penalties for companies, but also affects the ease of doing business in India. Users can view relevant acts, compliances and all legal updates in real time, i.e. within 24 hours of publication. News about legal updates is also organized from the media and made available to users for comprehensive information. While the original government order, notification or circular is also available for further study, the complex legal language and terminology of these legal updates are translated into easy-to-understand language if necessary. The regulated community must understand monitoring and reporting requirements to comply with environmental regulations. Avanti`s user support and guidance provide accurate information that helps ensure compliance. Coverage is comprehensive and includes all legal updates in seven categories – labour, environment/health/safety, finance and taxation, secretarial, trade, industry-specific and general (including local). Inspections provide an organization with timely, accurate and defensible information on plant compliance and/or non-compliance with permits and regulations. Avanti offers certified, rapidly deployable inspectors who perform accurate on-site inspections and compliance audits. Audits ensure that programs are executed correctly. Information about legal updates is scattered across multiple government websites, and manually tracking these legal updates is a challenge that businesses often fail, resulting in sins of omission (failed compliance) and commission sins (false compliance) and heavy penalties.

Moving to a digital solution that works in real time to track legal updates eases the compliance burden and enables businesses to operate more efficiently. A targeted survey, the study analyzed feedback from compliance professionals from more than 121 organizations in many different industries One of the leading integrated compliance regulatory technology companies, Avantis Regtech, from TeamLease Services, today announced the launch of a new automation platform – AVASEC – for practicing business secretaries (PCS). The compliance solution is available for free on native Android and iOS platforms, with more extensive functionality integrated through the RuleZBook app. The app has a simple self-integration module that allows users to set up in 5 minutes. Mobile phone numbers can be used for registration and the app can be customized in just three steps to select status, industry, and compliance categories. Based on this selection, the relevant laws and compliances are automatically assigned to the user profile. TeamLease Regtech has one of the most comprehensive legal and compliance databases in India, with over 1,100 laws and 60,000 compliances updated in near real-time, covering over 3,000 changes each year. He helps directors, board members, and legal and compliance leaders stay informed of their compliance requirements and reduce operational, reputational, and financial risks. Its solutions help improve the corporate governance of more than 1,000 corporate and MSME employers by enabling digitization. TeamLease Regtech serves more than 7,000 enterprise users in more than 12,000 factories/offices/warehouses, tracks 2,000,000 compliances, and supports the filing of 12,000 records, declarations, challans, and other compliance documents each month.

The company envisions cashless, paperless, presenceless and simplified compliance management as building blocks of EODB 3.0. TeamLease Regtech, a TeamLease company, is India`s leading regulatory technology (RegTech) company, facilitating the business of more than 1,100 legal entities in 28 states and 9 Union territories. TeamLease Regtech offers state-of-the-art multi-tenant SAAS solutions on its web and mobile platforms that enable transparent, accountable and effective risk and compliance management. Legal updates are changes to existing compliances that are published in the form of notifications and government circulars and are of two types: a) can be implemented that result in a change in compliance, and b) information that provides additional information/clarifications and may not result in a change in the process. These legal updates are: which should aim to reduce compliance by at least 50%. In addition, the creation of a unique business number (UEN) (to create a unique business identity) and the introduction of a Company Digi Locker allow for better compliance profiling of companies. All of this will help eliminate redundancies, eliminate duplication of work, improve record keeping, and make the entire process faster and more transparent,“ Agrawal added. Avanti determines the interface between resource conservation and responsible industrial exploitation with sound science.

Scientists and engineers assess the costs and benefits, pollution reduction, protection and impacts of human health, ensuring that every finding is documented and that every decision is justifiable. Automatically generated compliance and custom compliance schedule Integrated database of 1,536 laws, 69,233 compliances Integrated analytics with on-demand reporting and standard Regulated industries rely on government to implement programs that impact their business consistently, accurately, and effectively. Avanti provides processes, tracking, documentation, communication and registration to agencies so that they can meet their obligations. Avanti`s scientists and engineers will assist you in all aspects of the implementation of the regulatory program. Inspections and audits have been conducted under the following programs: Avanti has 30 years of experience supporting the NPDES program, from individual and government approvals to national general permits. Our team takes care of everything from data collection and permit preparation to water-related permits, public meetings, consultations, outreach and training, and evaluation of NPDES programs. Configurable and customized workflows to fulfill your business operations India`s leading compliance management software platform Color-coded chart, tracking over 72 real-time parameters Automated and custom alerts, reminders, escalations, and notifications Jul 08, 2022 | A collaboration between TeamLease RegTech and Te. | 12 min read Legal updates are covered by the central government and the 29 states and 7 Union territories as well as more than 7000 cities/municipalities and 2.5 lakh gram panchayats.

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